Brian Armstrong Sells 40,000 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong sold 40,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Brian Armstrong also recently made the following trade(s):

• On Monday, November 17th, Brian Armstrong sold 40,000 shares of Coinbase Global stock. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00.
• On Monday, November 10th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $320.67, for a total value of $8,016,750.00.
• On Monday, November 3rd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $337.49, for a total transaction of $8,437,250.00.
• On Monday, October 13th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00.
• On Thursday, October 2nd, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00.
• On Monday, September 15th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $322.28, for a total value of $8,057,000.00.
• On Thursday, September 4th, Brian Armstrong sold 25,000 shares of Coinbase Global stock. The shares were sold at an average price of $302.19, for a total transaction of $7,554,750.00.

Coinbase Global Trading Down 1.7%

COIN stock traded down $4.50 during midday trading on Wednesday, hitting $257.29. The stock had a trading volume of 13,055,174 shares, compared to its average volume of 10,942,188. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a market cap of $69.38 billion, a P/E ratio of 22.26 and a beta of 3.67. The business has a fifty day moving average price of $331.56 and a two-hundred day moving average price of $316.13. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $0.28 EPS. The business’s revenue was up 55.1% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently bought and sold shares of COIN. REAP Financial Group LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Evelyn Partners Investment Management Europe Ltd raised its holdings in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Palisade Asset Management LLC bought a new position in Coinbase Global in the 3rd quarter worth about $29,000. McClarren Financial Advisors Inc. bought a new position in Coinbase Global in the 1st quarter valued at $30,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the second quarter worth about $30,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Redburn Partners set a $417.00 price target on Coinbase Global in a research note on Friday, October 3rd. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and boosted their target price for the company from $300.00 to $425.00 in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $385.00 to $368.00 in a report on Friday, October 31st. B. Riley lifted their price target on shares of Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, Barclays reduced their target price on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $399.94.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.